MX-5 Mk 1 - Depreciation

[simonb]

Anyone know what depreciation would be like on a Mk 1 MX5?

Considering buying one now - about £2800 for the car, with a view to selling in September.

Obviously, going to be worth a lot less due to time of year being crap for convertibles but £2800 gets a ok ish car. Mechanically ok, but just needs a bit of a scrub up and i'm the man for the job. Do you think that with a bit of elbow grease and Meguiars that i'd get £2500 for it in September having covered about 3000 miles between now and then??

[Soapsuds]

what age, mileage etc. are you looking at?? Also spec and colour are important. Eunos' are cheaper to buy, but are fully loaded and shift out the door very easilly.

You are probably not far-off in your estimations. Selling in September might be a slow sale though, so be prepared to sit on it for a little bit

[theduisbergkid]

[ QUOTE ]

Anyone know what depreciation would be like on a Mk 1 MX5?

Considering buying one now - about £2800 for the car, with a view to selling in September.

Obviously, going to be worth a lot less due to time of year being crap for convertibles but £2800 gets a ok ish car. Mechanically ok, but just needs a bit of a scrub up and i'm the man for the job. Do you think that with a bit of elbow grease and Meguiars that i'd get £2500 for it in September having covered about 3000 miles between now and then??

[/ QUOTE ]

I bought a very very very cheap one for Scumball, with the intention of killing it on the 'ring, or selling when I got back, but its such a great little car, I'll hang on to it and seel next spring at a premium I think. Got mine off fleabay. Now must be the most expensive time to buy one of these .....

[Thorburn]

I bought my Mk2 off eBay for £7200 roughly a year ago now and similar cars in Autotrader are now about £6500.

The Mk1 won't depreciate much though, infact if you tidy it up it could even make some money.